INDIANAPOLIS — Gas prices in Indiana have leveled off — for now — after skyrocketing to record highs since the Russian invasion of Ukraine.
Average gasoline prices in Indianapolis are averaging $4.23/gallon Monday, according to GasBuddy's survey of 653 stations in Indianapolis. But that price is 91.1 cents per gallon higher than a month ago and $1.54 higher than mid-March of 2021.
“After a furious increase in the national average over the last two weeks, the top appears to be in with average gas prices slowly starting to decline over the last few days,” said Patrick De Haan, head of petroleum analysts at GasBuddy.
But don't get comfortable with this plateau. De Haan does not expect it to last long.
"While the decrease could be short-lived, it is nonetheless a well-needed break from the large surge in gas prices we've experienced over the last few weeks," De Haan said. "The situation remains fluid, and escalations remain very possible, if not likely."
LINK: Indianapolis gas prices
Prices do not look to be headed to an average near $4.50 per gallon in the near term, according to De Haan. "But it certainly could be a future possibility as long as there is conflict between Russia and Ukraine.”
Hoosiers could find gas as low as $4.05 per gallon on Sunday in the Indianapolis area, according to GasBuddy. The lowest price in the state of Indiana Sunday was $3.49 per gallon, while the highest was $4.69.
The national average price of gasoline did not change from last week and is still averaging $4.32 per gallon, according to both GasBuddy and AAA surveys.
The cost of diesel is averaging $4.97 per gallon in Indiana, according to AAA.
GasBuddy's survey updates 288 times every day from sources covering nearly 150,000 stations nationwide.